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Strategic PlanningUnrestrictedthe managerial proc.docx
- 1. Strategic Planning Unrestricted “the managerialprocess of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities” What is strategic planning? • Goal: • Long-term growth and profitability • Addresses two questions: • What is the organization’s main activity (currently)? • How will it reach its goals? Strategic planning • A subgroup of a single business or a collection of related businesses within the larger organization
- 2. Strategic business units •Each SBU has: • A unique target market • Control over its resources • Its own unique competitors • A unique strategic plan • May have its own accounting, R&D, manufacturing, marketing Strategic business units Strategic alternatives - tools Ansoff’s strategic opportunity matrix The innovation matrix • Yellow: • Core Innovation • Uses existing assets • Ex: Tide Pods • Orange: • Adjacent Innovation
- 3. • Uses existingabilities in new ways • Ex: Crest Whitestrips • Red: • Transformational Innovation • New markets, new products, new businesses • Ex: Uber/Lyft The innovation matrix Core Innovation Next year’s car Adjacent Innovation Electric car Transformational Innovation App-based taxi service The innovation matrix • Portfolios: SBUs will have a range of performance in terms of growth and profitability • This matrix organizes each SBU by their present or future growth and market share • Relative market share: • The ratio between the company’s market share and the
- 4. share of thelargest competitor Boston Consulting Group’s Portfolio Matrix Boston Consulting Group’s Portfolio Matrix Boston Consulting Group’s Portfolio Matrix Build Build or Harvest Hold or Harvest Divest Boston Consulting Group’s Portfolio Matrix The General Electric Model • Ansoff’s Matrix: • Helps you choose between current options (the present market and what you can currently offer) and new options (a new market and/or new products) • Innovation Matrix: • Illustrates how opportunities change as you move
- 5. away from corecapabilities • Boston Consulting Matrix: • Helps you analyze the performance of a portfolio of SBUs • General Electric: • Adds more nuance to the Boston Consulting matrix When to use what? • Based on the company or SBU’s strategy, managers can now create a marketing plan • Process of anticipating future events and determining strategies to achieve organizational objectives in the future Planning • Designing activities relating to marketing objectives and the changing marketing environment Marketing planning • Written document that acts as a guidebook of marketing activities for the marketing manager Marketing plan The Marketing Plan
- 6. • To provideclearly stated activities that help employees and managers understand and work toward common goals • To allow the examination of the marketing environment in conjunction with the inner workings of the businesses • To help marketing managers enter the marketplace with an awareness of problems and opportunities Objectives of the marketing plan Elements of a marketing plan • What business are we in? • Involves an analysis of current and potential opportunities and environmental conditions • Focus on the market served • Think about the benefits the customer seeks, not the product • Marketing myopia: • Defining the business in terms of the products and goods offered Defining the mission
- 7. We build relationshipswith successful, busy people who want to plan effectively for their futures and strive to avoid costly mistakes. - Danley & Associates Mission Statement Defining the mission Strengths Weaknesses Opportunities Threats SWOT analysis “a set of unique features of the company and its products that are perceived by the target market as significant and superior to those of the competition” What is a competitive advantage? • Why customers choose your company over your competitors
- 8. • Three types: •Cost • Product/service differentiation • Niche Competitive advantage • Being a low-cost competitor in an industry while still maintaining satisfactory profit margins • Costs may be reduced via: • Experience curves • Efficient labor • No frills • Government subsidies • Product design • Reengineering • Production innovations • New methods of delivery Cost competitive advantage • When a firm provides something that is unique and valuable to buyers (goes beyond a lower price) • Done through: • Brand name • Strong dealer network • Product reliability • Image
- 9. • Service Product/service differentiation •Seeks to target and effectively serve a single segment of the market • Used by small companies with limited resources • May be used in a limited geographic market • Effective for market segments with good growth potential but is not crucial to success of competitors Niche competitive advantage • Can’t be duplicated by competitors • Gives consumers a viable, unique, long-term reason to go to your firm over the competition • Can use assets: • Patents, copyrights • Technology • Locations • Equipment • Can also use intangible assets A sustainable competitive advantage
- 10. Setting objectives • Writedown what is to be accomplished through the marketing activities • Should be: • Realistic • Measurable • Time specific • Compared to a benchmark Setting objectives “selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets” What is a marketing strategy? • Use market opportunity analysis (MOA) to find attractive segments • Describe the segments in terms of demographics, psychographics, and buying behavior
- 11. • Choose oneor more segments to select as a target market • This info guides your development of the marketing mix Target market strategy “a unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with the target market” What is the marketing mix? • Includes any physical components but also: • Package • Warranty • After-sale service • Brand name or company image • The service experience • May be tangible or intangible (i.e. primarily a service or experience) Product • Making product available when and where customers want it
- 12. • Distribution activitieslike storing and transporting raw materials or end products • Products should be in good condition at desired locations at the right time Place (distribution) • Includes: • Advertising • Public relations (PR) • Sales promotion • Personal selling • Inform, educate, persuade, or remind consumers of your product or brand Promotion • What a buyer must give up to obtain the product • Often the easiest element to change • Can be important for competing effectively • Revenue = price * number of units sold Price
- 13. • Implementation • Turnsa marketing plan into action assignments • Ensures these assignments are executed in a way that accomplishes the plan's objectives • Evaluation • Gauges the extent to which the marketing objectives have been achieved during the specified time period Follow up on the marketing plan • Control • Provides the mechanisms for: • Evaluating marketing results in light of the plan's objectives • Correcting actions that do not help the organization reach those objectives within budget guidelines • Done through marketing audit • Helps management allocate marketing resources efficiently Follow up on the marketing plan
- 14. • Post audittasks • Do another SWOT analysis • Make recommendations to improve marketing performance • Set someone accountable for implementing improvement ideas Follow up on the marketing plan Continual attention Creativity Management commitment Strategic planning success Principles of Marketing Unrestricted A little about me • Syllabus
- 15. • Start Chapter1 Agenda for today “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” -AMA What is marketing? • A philosophy – a management approach that emphasizes customer satisfaction • A function – the way in which the philosophy is implemented or executed Two facets to marketing • At least two parties must be involved • Something of value must be present • Parties are capable of communication and delivery • Desire to deal with the other party exists • Each party is free to accept or reject the offer
- 16. Conditions for exchange “peoplegiving up something in order to receive something else they would rather have” What is an exchange? Important to Society Good Career Opportunities Important to Business Marketing affects you every day! Why study marketing? Marketing management philosophies • Focuses on the internal capabilities of the firm
- 17. Production orientation • Focuseson the internal capabilities of the firm Production orientation • Focuses on the internal capabilities of the firm • These firms typically do best when: • Competition is weak • Demand exceeds supply Production orientation • Focuses on aggressive sales techniques and the belief that high sales = high profits Sales orientation • Based on the marketing concept • Focuses on customer wants and needs to gain competitive advantage • Involves: • Integration of all organization activities to satisfy customer’s wants
- 18. • Achieve longterm goals by satisfying customer’s wants and needs (legally and responsibly) • Firms that implement the marketing concept are market oriented Market orientation • Includes: • Obtaining information about customers, competitors, and markets • Examining information from a total business perspective • Determining how to provide superior customer value • Implementing actions to provide value to customers Market orientation • Can compare on 5 characteristics: • Organization’s focus • Firm’s business • Target market • Firm’s primary goal • Tools used to achieve goal Sales vs Market orientations
- 19. • Organization’s focus •Inward looking • Focuses on what the firm makes Sales-oriented firm • Outward looking • Focuses on what the market wants Market-oriented firm Sales vs Market orientations “the relationship between benefits and the sacrifice necessary to obtain those benefits” What is customer value? • Offer products that perform • Earn trust • Avoid unrealistic pricing • Give the buyer facts • Offer organization-wide commitment in service and after-sales support • Co-create with customers • Examples: Lego, Nike ID
- 20. Customer value requirements “thecustomers’ evaluation of a good or service in terms of whether that good or service has met their needs and expectations” What is customer satisfaction? • When you compare your expectations with the actual performance of the good/service Evaluation • A strategy that focuses on keeping and improving relationships with current customers Relationship marketing • A strategy that focuses on keeping and improving relationships with current customers Relationship marketing
- 21. • Requires along-term perspective • Customer-oriented personnel • Effective training programs • Empowering employees • Teamwork Relationship marketing • A sales oriented firm defines its business in terms of goods or services • A market oriented firm defines its business in terms of benefits the customers seek Know the firm’s business Know the end consumer • A strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on precise customer groups • Organize and track customer segments • Allows for customization of offering and interactions with customers over time • Getting better with on-demand marketing Customer relationship management (CRM)
- 22. • Sales orientedgoals: • Achieve profitability through sales volume • Making a sale is more important than relationship- building • Tools: promotions, advertising, personal selling • Market oriented goals: • Profit by creating customer value, satisfaction, and building relationships • Takes a long-term focus • Tools: coordinates 4 Ps across organization Primary goals and tools • Focuses on meeting customers wants and needs but also preserving or enhancing individuals’ and society’s long-term best interests • What we want may not always be what is best Societal marketing orientation Societal marketing orientation
- 23. • What areB-Corps? • Certified by B Lab as social enterprises • Based on how value is created for non- shareholding stakeholders • Goal is to illustrate to consumers a “fundamentally different governance philosophy” (HBR Article) B Corps ProductionProduction SalesSales MarketingMarketing SocietalSocietal What can we make or do best? How can we sell more aggressively? What do customers want and need? What do customers want/need, and how can we benefit society? Marketing philosophy
- 24. The Marketing Environment Unrestricted •What influences the target market? • Controllable factors • Uncontrollable factors • Social • Demographic • Race and ethnicity • Economic • Technology and innovation • Political and legal • Competitors Understanding the external environment “the process of collecting and evaluating environmental information by a team of specialists” What is environmental scanning? • Values: • A strongly held and enduring belief regarding what is desirable
- 25. Self- sufficiency Upward mobility Work ethic EqualityIndividualism Achievementorientation Social factors • How do consumers use social media? • How do brands use social media? Social media Social media Social media Social media Social media Social media
- 26. • Wendy's PretzelBurger Love Songs Social media • Statistics of a population, including age, race and ethnicity, and location • Uncontrollable • Typically more useful if broken down in to more specific groups, like generations Demographic factors • Tweens: • Born 2010 or later • Associated with mobile games and smartphone apps markets • Almost half have a smart phone Demographic factors • Generation Z: • Born 1995-2009 • Often influence parents’ technology choices • 90% use social media
- 27. Demographic factors • Millennials: •Born 1977-1994 • Larger than population of Baby Boomers • Starting to have their own children • Associated with high workplace turnover Demographic factors • Generation X: • Born 1965-1976 • First group of latchkey kids • Have higher average incomes compared to Baby Boomers and Millennials Demographic factors • Baby Boomers: • Born 1946 to 1964 • Many have retired, but tend to outspend other generations • Active, don’t like being called “old” • Cadillac Ad Demographic factors
- 28. Ethnic markets • ChangingAmerican demographic makeup: • By 2050, 1 in 3 U.S. residents will be Hispanic • By 2041, whites of European descent will make up less than half of the U.S. population Ethnic markets • Hispanic Americans: • The largest U.S. minority group • Consume both English and Spanish media • Popular group for mobile service providers Ethnic markets • African Americans: • 53% are under the age of 35 • Have a strong influence on trends • Purchasing power is increasing Ethnic markets
- 29. • Asian Americans: •Highest average family income • 49% have a bachelor’s degree • Often heavy users of technology and early adopters Ethnic markets • Native Americans: Ethnic markets • Native Americans: • PGA and Notah Begay III foundation • Nike and Indian Health Service • Harley Davidson and the Indian Summer Festival Ethnic markets Economic factors • Research: • Internal idea incubators • Connections with universities
- 30. • Stimulating innovation: •Building scenarios • Enlisting the web • Talking to early adopters • Using marketing research • Creating an innovative environment • Catering to entrepreneurs Technology and innovation • Federal legislation • Competitive environment, pricing, advertising and promotions, consumer privacy • State and local laws • Taxes, fast food restrictions • Regulatory agencies • Consumer Product Safety Commission • Food and Drug Administration • Federal Trade Commission • Federal Communications Commission Political and legal factors • Bureaus of the FTC: • Bureau of Competition • Reviews mergers and acquisitions • Challenges anti-competitive conduct and promotes
- 31. competition • Provides informationand holds conferences and workshops on competition issues • Bureau of Economics • Provides economic analysis and support to antitrust and consumer protection investigations Political and legal factors • Bureau of Consumer Protection • Enforces federal laws that protect consumers • Empowers consumers with information • Communicates with consumers Political and legal factors • CAN-SPAM Act • Regulates unsolicited e-mail advertising • Prohibits commercial e-mailers from using false addresses and presenting false or misleading information • Children’s Online Privacy Protection Act • Requires websites operators to post a privacy policy on their home page and a link to the policy on every page where
- 32. personal information iscollected Political and legal factors • Technology shifts the competitive environment • Market share and profits • Global competition Competitive factors A Global Vision Unrestricted Pros and cons of globalization • Gross domestic product (GDP): • Total market value of all final goods and services produced in a country in a given period • Does not include intermediate parts used in the assembly of a final product Global marketing in the United States
- 33. “Recognizing and reactingto international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets” What is a global vision? Outsourcing and inshoring 1. Companies operate in one country and sell into others 2. Companies set up foreign subsidiaries 3. Companies set up an entire line of business in another country 4. Executives and C-suite are in multiple countries and make decisions virtually When the company becomes highly involved in international trade, they are called a multinational corporation. Stages of global business development
- 34. Pros Cons Accounts for20 percent of U.S. private Jobs Technology is capital intensive and does not necessarily increase employment Provides 25 percent of all private wages Support governments that benefit the company and not necessarily the country and its people Spend $ 680 billion in R&D May take away more wealth than they generate Stages of global business development • Global marketing standardization: • Production of uniform products that can be sold the same way all over the world • Multidomestic strategy: • Creates subsidiaries that can compete independently in their own domestic markets • Allows for more product variation
- 35. Global marketing strategies Externalfactors influencing global marketing • Culture and cultural values • Economic development • Gross national income (GNI) • Purchasing power parity (PPP) • Balance of trade • The global economy External factors • Political structure • Legal considerations: • Tariffs • Quotas • Boycotts • Exchange control • Market grouping • Trade agreement External factors • Uruguay Round (1994)
- 36. • Global tradeagreement • Reduced tariffs worldwide • Protects patents • Eases licensing processes for financial, legal, and accounting services • Opens agricultural opportunities • Reduces clothing quotas • Added the WTO Trade agreements • Trans-Pacific Partnership (TPP) • Finalized 2015; not yet passed by Congress in US • President Trump does not support • Reduces tariffs on cars and agriculture • Reduces other barriers like customs procedures, rules for government agencies, and barriers in trade for services Trade agreements • North American Free Trade Agreement (NAFTA; 1993) • US, Canada, and Mexico • Free trade of agricultural goods, manufactured products, and raw materials Trade agreements
- 37. • Free tradein much of Europe • 27 members, no UK • But, even with standard regulations, it is difficult to standardize business in the EU The European Union • Demographics: • Wealth • Population • Greatest consumption growth: • Retired and elderly in developed countries • China’s working age population • North America’s working age population External factors • Natural resources External factors • Why “go global”? • Exporting: Selling domestically produced products to buyers in other countries
- 38. • Buyer forexport: Intermediary in the global market that assumes all ownership risks and sells globally for its own account • Export broker: Intermediary who plays the traditional broker’s role by bringing buyer and seller together • Export agent: Intermediary who acts like a manufacturer’s agent for the exporter Global marketing strategy • Licensing: Legal process whereby a licensor allows another firm to use its manufacturing process, trademarks, patents trade secrets, or other proprietary knowledge • Franchising: Outsources delivery of the product to a foreign franchisee, who invests time and money for the already developed business Global marketing strategy • Contract manufacturing: Private label manufacturing by a foreign company • Joint venture: When a domestic firm buys part of a foreign company to create a new entity
- 39. • Direct foreigninvestment: Active ownership of a foreign company or of overseas manufacturing or marketing facilities Global marketing strategy Global marketing strategy • Product decisions • Promotion adaptation • Place distribution • Pricing Global marketing mix • Product decisions • Global market standardization • Product invention/adaptation Global marketing mix • Product decisions • Global market standardization • Product invention/adaptation Global marketing mix
- 40. • Promotion adaptation: •Maintain the same product but change promotional strategy Global marketing mix • Pricing: • Consider tariffs and taxes • Distribution costs • Purchasing power parity • Dumping: • Sales of exported product at a lower price than that charged for a similar product in the home market of the exporter • Countertrade: • All of part of the payment for good or service is in the form of other goods or services Global marketing mix Global marketing mix
- 41. Strategic Planning Unrestricted “the managerialprocess of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities” What is strategic planning? • Goal: • Long-term growth and profitability • Addresses two questions: • What is the organization’s main activity (currently)? • How will it reach its goals? Strategic planning • A subgroup of a single business or a collection of related businesses within the larger organization Strategic business units
- 42. • Each SBUhas: • A unique target market • Control over its resources • Its own unique competitors • A unique strategic plan • May have its own accounting, R&D, manufacturing, marketing Strategic business units Strategic alternatives - tools Ansoff’s strategic opportunity matrix The innovation matrix • Yellow: • Core Innovation • Uses existing assets • Ex: Tide Pods • Orange: • Adjacent Innovation • Uses existing abilities in new ways • Ex: Crest Whitestrips • Red:
- 43. • Transformational Innovation •New markets, new products, new businesses • Ex: Uber/Lyft The innovation matrix Core Innovation Next year’s car Adjacent Innovation Electric car Transformational Innovation App-based taxi service The innovation matrix • Portfolios: SBUs will have a range of performance in terms of growth and profitability • This matrix organizes each SBU by their present or future growth and market share • Relative market share: • The ratio between the company’s market share and the share of the largest competitor Boston Consulting Group’s Portfolio Matrix
- 44. Boston Consulting Group’sPortfolio Matrix Boston Consulting Group’s Portfolio Matrix Build Build or Harvest Hold or Harvest Divest Boston Consulting Group’s Portfolio Matrix The General Electric Model • Ansoff’s Matrix: • Helps you choose between current options (the present market and what you can currently offer) and new options (a new market and/or new products) • Innovation Matrix: • Illustrates how opportunities change as you move away from core capabilities • Boston Consulting Matrix: • Helps you analyze the performance of a portfolio of
- 45. SBUs • General Electric: •Adds more nuance to the Boston Consulting matrix When to use what? • Based on the company or SBU’s strategy, managers can now create a marketing plan • Process of anticipating future events and determining strategies to achieve organizational objectives in the future Planning • Designing activities relating to marketing objectives and the changing marketing environment Marketing planning • Written document that acts as a guidebook of marketing activities for the marketing manager Marketing plan The Marketing Plan • To provide clearly stated activities that help employees and managers understand and work toward common goals
- 46. • To allowthe examination of the marketing environment in conjunction with the inner workings of the businesses • To help marketing managers enter the marketplace with an awareness of problems and opportunities Objectives of the marketing plan Elements of a marketing plan • What business are we in? • Involves an analysis of current and potential opportunities and environmental conditions • Focus on the market served • Think about the benefits the customer seeks, not the product • Marketing myopia: • Defining the business in terms of the products and goods offered Defining the mission We build relationships with successful,
- 47. busy people whowant to plan effectively for their futures and strive to avoid costly mistakes. - Danley & Associates Mission Statement Defining the mission Strengths Weaknesses Opportunities Threats SWOT analysis “a set of unique features of the company and its products that are perceived by the target market as significant and superior to those of the competition” What is a competitive advantage? • Why customers choose your company over your competitors • Three types: • Cost • Product/service differentiation • Niche
- 48. Competitive advantage • Beinga low-cost competitor in an industry while still maintaining satisfactory profit margins • Costs may be reduced via: • Experience curves • Efficient labor • No frills • Government subsidies • Product design • Reengineering • Production innovations • New methods of delivery Cost competitive advantage • When a firm provides something that is unique and valuable to buyers (goes beyond a lower price) • Done through: • Brand name • Strong dealer network • Product reliability • Image • Service Product/service differentiation
- 49. • Seeks totarget and effectively serve a single segment of the market • Used by small companies with limited resources • May be used in a limited geographic market • Effective for market segments with good growth potential but is not crucial to success of competitors Niche competitive advantage • Can’t be duplicated by competitors • Gives consumers a viable, unique, long-term reason to go to your firm over the competition • Can use assets: • Patents, copyrights • Technology • Locations • Equipment • Can also use intangible assets A sustainable competitive advantage Setting objectives
- 50. • Write downwhat is to be accomplished through the marketing activities • Should be: • Realistic • Measurable • Time specific • Compared to a benchmark Setting objectives “selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets” What is a marketing strategy? • Use market opportunity analysis (MOA) to find attractive segments • Describe the segments in terms of demographics, psychographics, and buying behavior • Choose one or more segments to select as a target market • This info guides your development of the
- 51. marketing mix Target marketstrategy “a unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with the target market” What is the marketing mix? • Includes any physical components but also: • Package • Warranty • After-sale service • Brand name or company image • The service experience • May be tangible or intangible (i.e. primarily a service or experience) Product • Making product available when and where customers want it • Distribution activities like storing and transporting raw materials or end products
- 52. • Products shouldbe in good condition at desired locations at the right time Place (distribution) • Includes: • Advertising • Public relations (PR) • Sales promotion • Personal selling • Inform, educate, persuade, or remind consumers of your product or brand Promotion • What a buyer must give up to obtain the product • Often the easiest element to change • Can be important for competing effectively • Revenue = price * number of units sold Price • Implementation • Turns a marketing plan into action assignments
- 53. • Ensures theseassignments are executed in a way that accomplishes the plan's objectives • Evaluation • Gauges the extent to which the marketing objectives have been achieved during the specified time period Follow up on the marketing plan • Control • Provides the mechanisms for: • Evaluating marketing results in light of the plan's objectives • Correcting actions that do not help the organization reach those objectives within budget guidelines • Done through marketing audit • Helps management allocate marketing resources efficiently Follow up on the marketing plan • Post audit tasks • Do another SWOT analysis • Make recommendations to improve
- 54. marketing performance • Setsomeone accountable for implementing improvement ideas Follow up on the marketing plan Continual attention Creativity Management commitment Strategic planning success Ethics and Social Responsibility Unrestricted • Social control: • The ways in a which a society maintains behavioral norms and regulates conflict • Modes of social control: • Ethics • Laws
- 55. • Formal andinformal groups • Self-regulation • Media • Active civil society What holds society together? “the standard of behavior by which conduct is judged” What are ethics? • Deontological theory: • People should adhere to their obligations and duties when analyzing ethical dilemmas • Will always keep their promises and follow the law • Can introduce conflicting obligations Ethical theories • Utilitarian ethical theory: • Based on the ability to predict the consequences of an action • Act utilitarianism: • The choice that benefits the most people is the ethically correct choice
- 56. • Rule utilitarianism: •Also seeks to benefit the most people, but also considers fairness and the law Ethical theories • Casuist ethical theory: • Compares a current ethical dilemma with similar past dilemmas and their outcomes Ethical theories • Moral relativism: • The ethically correct choice depends on the situation (time, place, people) • Does not have absolute rules for any decision • Virtue ethics: • A character trait valued by society as being good Ethical theories • Actions taken and choices made will depend • Morals: • Rules people have based on cultural values and
- 57. norms • A foundationfor ethical behavior • Often also reflect laws and regulations Ethical behavior in business • Based on what will be punished or rewarded • Self-centered, calculating, and selfish Preconventional morality • Moves toward the expectations of society • Concerned about the legality and the opinion of others Conventional morality • Represents the morality of the mature adult • Concerned if it works in the long run Postconventional morality Ethical development levels What makes us more likely to behave ethically?
- 58. • Code ofethics • Formal guidelines to help managers and employees make good choices • Ethics in other countries • Foreign Corrupt Practices Act (FCPA) Ethical behavior in business • To behave ethically, an organization should pay attention to the interest of all stakeholders in every aspect of a firm’s operation Stakeholder theory • 55% of consumers may be willing to pay more for companies with good CSR (Nielsen study) • United Nations Global Compact (UNGC) • B Corps Growth in CSR popularity • Belief that a socially responsible firm will view
- 59. the world’s problemsas its own – and take action to do something about them • Environmental • Social • Economic Sustainability • Nonprofit organization that provides guidelines for developing a sustainability report • Economic standards • Environmental standards • Social standards Global Reporting Initiative (GRI) • Cooperative marketing efforts between a for- profit firm and a nonprofit organization Cause related marketing Reflection 1 Use this assignment to reflect upon what you’ve read and learned over the course of this module. Also use it as an opportunity to ask for clarification on any topics you didn’t fully understand, or questions that came up while you were working. Think of it as the participation and discussion you
- 60. might do ina face-to-face class. I’ll clarify things and answer your questions just like I would in class or office hours. Full credit will be given to reflections that seem thought-out and well-considered. 1. First Impressions: List thoughts or ideas that came to mind as you did the work for the week. 2. Key Terms: List words and concepts you felt were important this week. 3. Questions: List any questions that came to mind while you completed the work this week. These questions can be about the content, a topic related to the content, or about assignments or the format of the class. Unrestricted Assignment 1 (Chapter 2) Read Amazon’s description of Amazon Go here, first. Then, read this Fast Company article. Finally, please answer the following questions. You are not required to use complete sentences, but please write enough that I can understand your answer. Type your answers directly into this document and submit it on D2L. Submit either a Word document or a PDF; please do not submit Pages documents. 1. What type of marketing management philosophy do you think Amazon has? Why do you think so?
- 61. 2. Describe AmazonGo’s target market. (Your answer should refer to specifically Amazon Go, not Amazon in general.) 亚马逊副总裁 Gianna Puerini 说，Amazon Go的目标是为“匆忙、饥饿的人”服务。消费者会找到随拿即走的食物、小吃和 饮料等。Amazon Go用科技来帮助人们不用拥挤在收银员周围付账的神奇体验，看起来达到了 3. When Amazon developed Amazon Go, which option were they pursuing from Ansoff’s opportunity matrix? How do you know? 4. Now, consider the Boston Consulting Group’s Portfolio Matrix. In Amazon’s portfolio of strategic business units, is Amazon Go a star, question mark, cash cow, or dog? How do you know? Question mark: 5. How would you describe Amazon Go’s competitive advantage? What type of competitive advantage do you think it is, and why? The cashierless shop, which uses AI to ring up your purchases, could be a key part of Amazon’s expanding vision of retail’s future. Unrestricted 1